Financial technology, or fintech, is cutting-edge technology used to help improve and automate the delivery of financial services. Fintech companies are not financial institutions, but instead financial applications like Zelle and Venmo that help both businesses and individuals send money faster and easier.
Fintech helps to expedite the use and transfer of financial services like traditional tender and cryptocurrencies such as Bitcoin and Ethereum.
According to Toptal, Inc., a freelancing platform for software engineers and financial experts, the fintech industry will reach a value of $310 billion US by the end of 2022. That’s a 25% compound annual growth rate and $56 billion over the amount for 2018.
In 2018, venture capitalists invested a total of $254 billion into 18,000 fintech companies, a 46% increase over the year prior.
If you’re excited about fintech, you’ll be sure not to miss the Fintech Deal Day & Awards, to be hosted at the state-of-the-art Pier Sixty in New York City.
Speakers include Steve Sanders, executive vice president of marketing and product development for Interactive Brokers, Connor Coughlin, general manager of fintech for Apex Fintech Solutions, and Christina Bechhold Russ, senior vice president and head of investment initiative at Truist Ventures.
Also Read: These 5 New York Fintechs Aim To Make Your Financial Life Easier
Fintech Deal Day starts at 8 a.m., December 8, 2022, and Boston is just a train ride away from NYC. The Amtrak 173Northeast Regional line arrives in NYC on Dec. 7 at 3:22 p.m., a day ahead of the event.
Until then, here are five great fintech companies to watch in Boston.
Circle
Based in Boston, Circle employs blockchain technology to help customers send and receive funds quickly and easily. Circle is a global technology company that facilitates financial transactions through the power of USDC and Euro Coin. Also known as a stablecoin, USDC is a digital dollar that lives natively on the internet. Billions of USDC change hands every day all over the world. Circle was founded in 2013 by Jeremy Allaire and Sean Neville.
Flywire
Flywire is a fintech software and payments company located in Boston, but servicing customers in cities all over the world like London, Shanghai and Singapore. Via Flyware Advantage, the company’s next-generation payment platform helps customers make online payments globally. Flywire was founded by Ikers Marcaide in 2011.
Botkeeper
Botkeeper is an automation bookkeeping company that helps its customers save time and money through the power of AI. It does so by providing businesses with a powerful one-two punch of skilled accountants and automated data. The human-assisted AI is built for accounting professionals. The company was founded in Boston in 2015.
Numerated
Founded in 2017 by Dan O’Malley and located in Boston, Numerated is a fintech company making business banking easy for both financial institutions and their clients. Credit unions and banks utilize the Numerated digital lending platform and its unique use of data to help streamline transactions.
Finch
Headquartered in Boston, Finch eCommerce solutions utilize a visual timeline to help customers execute their financial plans. Finch empowers eCommerce companies to grow both reach and revenue. Founded in 2009, Finch is a leader in PPC optimization on such global sites as the Amazon, Google and Microsoft advertising platforms.
For additional information and to get your tickets now, visit the Benzinga Fintech Deal Day & Award Website.
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